What many people don’t realise is that there is a tried and true strategy for ordinary wage earners to become part of the 4% who are financially secure or even the 1% who are wealthy. We call it the MRD way.
But before we discuss this strategy, there are three steps new investors are recommended to understand in order to achieve financial independence:
1. Goal Setting
The winds of life blow on all of us. Where they carry us, however, depends on how we have set our sails. Have you taken time out to set your goals? Do you have an action plan? It’s far too easy for a few years to pass you by, and then to look back, and wonder where the years have gone, and why you are no better off.
You need to make it your priority to set your sails. If you want to sail from Sydney to Hobart, firstly you need to know where you are going and set your sails so they take you in that direction. If you have not set clearly defined goals, you could end up anywhere. The winds and conditions can also change, so you also need to be able to revisit your strategy when this happens and rely on the advice of a seasoned professional, in this case the skipper.
Likewise, when investing, you need to be very clear on what your desired outcomes are. It’s the reason why you are doing things that will drive you towards achieving your dreams. Goals can be set and achieved in any conditions. The important thing is not to wait and to set them and embark on that journey now.
If you have no experience in sailing and want to sail from Sydney to Hobart, the first problem you may face is not knowing what to do. You’ll need to learn how to sail or you’ll end up going nowhere. Investing is no different. Like any skill, if you want to get the results you desire then you will need to study and get the knowledge to achieve your objectives. It also pays to surround yourself with people who can provide advice and mentor you through the process. You’ll learn from all the experience they’ve taken years to amass.
If you have an old clunker of a boat, it doesn’t matter how great a sailor you are, it’s going to take a long time to get from Sydney to Hobart if you are in the wrong vehicle. Investing is no different. The most important step you need to take when you decide to invest is choosing the right vehicle. There are many vehicles you can choose, but the MRD way focuses on one that we believe is the most statistically safe and responsible investment vehicle available. By the time you finish reading this guide, you’ll understand why